NOVAGOLD Welcomes Peter Adamek as New Chief Financial Officer

Company Overview - NOVAGOLD RESOURCES INC. is focused on the development of the Donlin Gold project in Alaska, which is one of the largest and highest-grade open-pit gold deposits globally, with approximately 39 million ounces of gold in the Measured and Indicated Mineral Resource categories [7] - The Donlin Gold project has Proven Reserves of approximately 8 million tonnes grading 2.32 g/t and Probable Reserves of approximately 497 million tonnes grading 2.08 g/t [1] Management Changes - Peter Adamek has been appointed as Vice President and Chief Financial Officer (CFO) effective July 15, 2024, following the retirement of long-serving CFO David Ottewell [2][6] - David Ottewell will assist in the transition until his retirement date, having contributed significantly to the company's finance strategy and team development over the past 12 years [6] Project Development - The Donlin Gold project is expected to produce over one million ounces of gold annually over a 27-year mine life once in production [7] - Current activities at the Donlin Gold project include state permitting, engineering studies, community outreach, and workforce development in preparation for construction and operation [7] Financial Position - NOVAGOLD is well-financed and positioned to fund its share of permitting and advancement efforts at the Donlin Gold project [7]